Robert W. Baird Forecasts Strong Price Appreciation for Toast (NYSE:TOST) Stock

Toast (NYSE:TOST) had its price target boosted by equities researchers at Robert W. Baird from $38.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 1.77% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Wednesday, November 20th. The Goldman Sachs Group dropped their target price on shares of Toast from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Finally, Oppenheimer began coverage on Toast in a research report on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average price target of $37.95.

Toast Trading Down 1.7 %

NYSE:TOST opened at $39.30 on Thursday. The stock has a market cap of $18.51 billion, a price-to-earnings ratio of -304.48, a PEG ratio of 2.27 and a beta of 1.98. The stock has a 50-day moving average price of $38.59 and a two-hundred day moving average price of $33.30. Toast has a 1 year low of $20.49 and a 1 year high of $44.12.

Toast (NYSE:TOST) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. Sell-side analysts forecast that Toast will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the transaction, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now owns 182,451 shares of the company’s stock, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 339,564 shares of company stock worth $13,577,845. Corporate insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

A number of institutional investors and hedge funds have recently modified their holdings of TOST. Blue Trust Inc. boosted its holdings in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares during the period. Piscataqua Savings Bank purchased a new position in shares of Toast in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in Toast in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. bought a new position in shares of Toast in the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Toast during the 4th quarter valued at $40,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.